Mambu

Based in Germany, Mambu offers infrastructure for banks, FinTech startups, financial institutions, and telcos, to embed banking services to their FinTechs. The platform offers over 6,000 financial products including personal lending, digital wallets, and current accounts. Mambu is deployed on the cloud and allows businesses to use integrations to streamline and automate banking services. The platform can also be used to replace legacy banking FinTechs in addition to building new ones. For instance, in April 2021, Mambu’s infrastructure was used to rebuild Tandem Bank’s banking platform. 

Key customers and partnerships 

As of December 2021, the platform had over 200 enterprise customers, more than 53 million end users, and handled around 130 million API calls daily. Moreover, Mambu had around USD 12 billion in portfolios under management as of March 2021. Its customers include large enterprises such as Western Union, Raiffeisen Bank, ABN AMRO, OakNorth, Orange, and Santander, among others. Mambu noted that its presence spans across more than 65 countries in six continents including operations in the US, Japan, Brazil, Malaysia, and the UK. 

In February 2021, Mambu partnered with the FinTech software development company TruNorth to create a cost-effective way for regional banks, credit unions, and community banks to digitize their operations. In July 2022, Mambu partnered with Visa to develop an integration with Visa DPS, a debit transaction processor, to provide its customers the ability to offer new card products and services.

Funding and financials

The company raised a total of EUR 345 million (USD 391 million) in two rounds of funding in 2021 (EUR 235 million in Series E funding in December and EUR 110 million in January). The company’s valuation reached EUR 4.9 billion (USD 5.5 billion) in December, more than double its valuation in January (EUR 1.7 billion). The funds were earmarked to be invested in accelerating innovation of Mambu’s platform, building on strategic partnerships, as well as expanding its global footprint and customer success.